Did I Make A Huge Mistake Grading This Coin - £800 Extra Profit GONE - Lessons in Selling for Profit
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- čas přidán 27. 07. 2024
- #Royalmint #silver #Gold
This video is not financial advice, it is my opinion only.
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Get the dremmel out and cut it back out, then you are only out the cost of grading the coin - £30? You could even resubmit it and see if it gets a 70 grade next time out.
I heard that actually works!!
It's not that the raw coins are worth more, it's that the whole market has come down
@@CashAndCoinsYT Different day, different grader, different mood, it's possible to get it elevated to a 70.
For you BYB, I would say selling your coins on a special CZcams auction would be by far the best way to go. Secondly, the silver forum, and then third option would be a auction house but the problem with auction houses is they sometimes take months to pay out and they do usually take a high percentage
I agree my friend, thanks for sharing!
Crack the slab with a hammer and put that coin back in original packaging. Case closed.
You may find useful videos on how to do it right without damaging your coin.
Well, it's not that the graded is worth less than the raw coin, the raw coin prices have come down now too, raw prices are about the same as this 69 grade.
I just received my Queen's Beast completer Au BU (yay!). I pulled it out of the flip, and immediately dropped it on the only hard tile in my house. Yes, those .9999 fine coins will dent. It's not too bad, but I just want to cry.
Oh no, that is so sad to hear! Lessons learned my friend!
@@BackyardBullion Yeah, well, I still like it and it's not like I was planning to sell it this lifetime, so it's an imaginary loss. It's dented on the reeding and the rim slightly. I paid spot +$150 and figure that an undamaged one will be spot +$1,000 in a few years.
That Griffin looks class. Would be hard to let go of I imagine. When its in hand!
*I love watching graded coin videos. Thanks for the info mate.*
No worries, thanks for watching!
BYB I really wanted that 3 graces coin. So beautiful.. Thank you for sharing..
Check the same proof coin minted for St. Helena by the East India Company. About the same coin but 20 times cheaper. Great coin in hand.
But the at Helena is just not the same, this one is stunning.
I think what we're seeing more and more in this market, is the growing disparity between a 69 and a 70 grade. 70 grades are very much sought-after and people are willing to pay for it. In reality, often one cannot distinguish by eye the quality difference between the two, so... we cannot really escape the element of luck in grading to obtain a coin worthy of a top grade. It seems to me that coins like the modern sovereigns and other gold proof coins more readily receive 70's than some of the new silver proofs.
I managed to get an Una last year for £160 it's with NGC as we speak. A 69 = £3,000 A 70 = £6,000 however I'm not planning to sell it any time soon.
Nice, good to hear!
I hate what ebay has done. They killed the small seller market. If I want a coin I have use a power seller and pay 70-80% over spot.
Yep, its not a good place.
Great video. Do you have one that explains exactly what grading is?
What you do with your coin is up to you the people that are salty about flippers are people that don't have one if I had one I would give seriously thought ABout flipping it as the profits could be put into the next coin it's one way of getting your stack to work for you
Thanks for sharing my friend, I agree
I agree. You have taken the risk in the first place purchasing the coin. Why not let the free market purchase at a profit? People do the same with houses, so why not silver stackers? Never be ashamed of making money.
I wouldn’t feel bad about selling close to the release date. You said you bought the coin to sell in the future, and whether it’s 1 hour or 1 year should have no bearing in my opinion. If I missed out on a release, I personally would prefer to pay a premium to buy it quickly, when I know it hasn’t been graded/de-slabbed, and handling is minimized.
Thanks my friend, I appreciate the feedback and the interesting take on the flipping market.
I like graded coins, they look the part generally, and you can be reasonably sure that the coin you purchase graded by a company such as NGC or PGCS is genuine and graded fairly. However, I would only buy graded silver proof and gold for my own personal collection, if I had the money to buy them, because I liked them and they appealed to me, not necessarily to make money from, although I'm in agreement with making money, nothing wrong with that. But for me, they would be for my personal collection to be either passed on to my kids or grandkids or sold years and years down the line.
the reason why they are going so cheap byb is simple there are well over 1000 of these coins with pf70uc as opposed to the una and the lion which has just over 200 pf70uc. so you dont know what is going to happen to the next one that comes out..
Price does not matter. It depends on what you do with the cash if you sell.
Indeed, I agree!
Haven't noticed the price of the three graces as I haven't looked , but I can see how waiting that long for grading , and the hype and urgency to get a new release , maybe would affect the price... It's like the Q.B completer coin , the first on Ebay were going around £400 , but then price started to settle , although badly timed listings (ends.. Wednesday afternoon school run) have something to do with sale prices..
Yeah, it's always the same there will be a hype up and then a settling down and the slowly prices will rise up.
Sometimes when a coin goes up so much in value fast. I am am the one who is annoyed because I know someone else values the coin more then I do, and I have to sell.
That is very true, it is an interesting timing question to always ask
How do you know which (proof) coins could do well though? Una & the lion, and the Three Graces did very well, but there are also plenty of examples of which you can consider yourself lucky if the coin even holds its value. So what explains that difference in popularity?
First 👍 too. Support your favorite channels with a free tip, a 👍 and even a comment
Thanks my friend! What is your free tip!?
@@BackyardBullion hahaha well I've been told that clicking 👍 is a free way to tip a channel, but i would give you this: if you feel sore, suddenly weak, dizzy or fatigued, take some time to sit, and hydrate yourself
Is £239 for the new 2021 St Helena Silver Proof 2oz (not graded) a good deal right now????
Personally, I don't think so. It's a large price for a 2 Oz silver coin that will always be inferior to the actual 3 graces by the RM
I took the £1800 and ran lol, its a mystery why the silver bombed as the design is a nice one compared to many other RM poor designs
Wallet fatigue from the buyers market maybe?
@@BackyardBullion lol
Beautiful coins BYB. I will never sell my 2oz silver great engravers series set. It’s with me For life. Then it goes to my daughter after that. 🤩🤩🤩🤩🤩🍻👃🏻 now the 5oz silver three graces is a different story. I would be willing to part with it for the rite Price or the rite person. 🤩🤩🤩🤩🍻👃🏻I
Can’t wait till the next coin in the series. Gothic crown?
I bet that 5 Oz is so amazing, I hope you get a good price for it my friend. I hope the Gothic crown is next, that will be stunning!
@@BackyardBullion 🤩🤩🤩🤩
parabéns mas um belo video
Is silver shot better by thin silver coin thank for your time
It’s more difficult to verify. I wouldn’t suggest it unless you’re making your own products that you intend to hallmark. Or if you just want a small amount because it looks cool in a little jar.
I agree, use coins it's much better to know the silver is genuine
Hi BYB, great video. Do you have to create an account with NGC before self grading? Or can you do it as a guest? ( one off grading? )
Yeah, you do need to have an account with them, makes most sense if you have more than a couple of coins to send in.
Coin flipping is a bit of a black art , many don't make the huge highs others do but then far just as quick. The odd few do go sky high and stay there, and there's not always an obvious reason hype, mintage or design could be good indicators but not guaranteed. Never been a fan of slabbing to me it's an American thing as they have crap selection of coins apart from buffalo which is my all time favourite recurring design coin .
Thanks for sharing, it's a lottery for sure and 9/10 tend not to make very much or at all. But the odd gem always comes up!
Has anyone gotten a 2021 Britannia (gold) with a reed missing? A single reed missing
I have not heard of anybody having issues like this.
Hi, I really enjoyed that video, never done any flipping before, but now I want to, how do you know which coins to buy, and what's the reasons for grading.
It's so difficult, sometimes you have to be in the right place at the right time and make a snap decision
@@BackyardBullion have you seen the new Queens beast 2oz silver and 1 Oz gold coins, advertised to me by Bullion by post, if so any recommendations on those coins.
Yes, but have a look at Chards or Atkinson's bullion they are way cheaper. Also, the European mint in Estonia are even cheaper even when you factor in shipping and import tax when buying in volume. Bullion by post are very expensive, I would not buy from them
@@BackyardBullion Do you get quality bullion from Atkinsons? ie unscuffed
100% they are one of the best in the UK
First!
Thanks!
I will give you £500 for the three graces 😊 great video as always thanks BYB
A generous offer, but not quite where I want it to be :-)